Many high-growth, high-cost regions are facing widespread affordability challenges caused in part by shortage of housing, and rising housing development costs. To effectively address this issue, we need to deeply understand both market conditions and policy frameworks (local, state, and national) that are contributing to this reality, and identify and promote the solutions that can change it. The Terner Center hosted a one day session of academics and industry specialists in June to explore the conditions that underlie the under-supply of housing in high-cost regions and practical innovative solutions which will ensure the development of housing in ways that address both economic inequality and climate change challenges.
The premise of the event was to discuss housing affordability and the supply of housing. However as this is not the only factor affecting costs, simply building more housing - especially without thought to the type and location of that housing - won’t alone address the complex and urgent affordability challenges in high-cost regions. Nonetheless, it is an important component of the broader challenge, and the panelists did a dive deep into how to increase supply in ways that can meet the needs of people across the income spectrum, while advancing, rather than working at the expense of, equity and environmental goals.
We convened a group of academics, developers, policymakers, advocates, and journalists, and live-streamed the event across the country, recognizing that to address this problem we need the collaboration and cooperation of many stakeholders to promote an array of ideas and actions. Former Secretary of the U.S. Department of Housing and Urban Development and Former Director of the Office of Management and Budget Shaun Donovan and UC Berkeley Professor Enrico Moretti led two keynote sessions framing these challenges from the perspective of a leader in federal government and economist, respectively.
The conference was filmed and the video is available here.